Brickley Wealth Management purchased a new stake in Franklin Resources, Inc. (NYSE:BEN) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 49,170 shares of the closed-end fund’s stock, valued at approximately $2,131,000. Franklin Resources accounts for 1.1% of Brickley Wealth Management’s holdings, making the stock its 15th biggest holding.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Franklin Resources by 1.2% in the second quarter. Vanguard Group Inc. now owns 27,248,491 shares of the closed-end fund’s stock valued at $1,220,459,000 after purchasing an additional 318,449 shares during the period. Bank of New York Mellon Corp raised its position in shares of Franklin Resources by 35.9% in the third quarter. Bank of New York Mellon Corp now owns 4,874,451 shares of the closed-end fund’s stock valued at $216,961,000 after purchasing an additional 1,288,818 shares during the period. Diamond Hill Capital Management Inc. raised its position in shares of Franklin Resources by 3.7% in the third quarter. Diamond Hill Capital Management Inc. now owns 3,919,555 shares of the closed-end fund’s stock valued at $174,459,000 after purchasing an additional 138,472 shares during the period. APG Asset Management N.V. raised its position in shares of Franklin Resources by 57.3% in the third quarter. APG Asset Management N.V. now owns 3,906,627 shares of the closed-end fund’s stock valued at $173,884,000 after purchasing an additional 1,422,900 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of Franklin Resources by 138.7% in the third quarter. Ameriprise Financial Inc. now owns 3,372,129 shares of the closed-end fund’s stock valued at $150,106,000 after purchasing an additional 1,959,427 shares during the period. 44.85% of the stock is currently owned by institutional investors.

BEN has been the topic of a number of research reports. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $46.00 target price on shares of Franklin Resources in a research report on Wednesday, November 1st. ValuEngine raised shares of Franklin Resources from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Citigroup dropped their target price on shares of Franklin Resources from $45.00 to $44.00 and set a “neutral” rating on the stock in a research report on Friday, October 27th. Zacks Investment Research lowered shares of Franklin Resources from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Finally, UBS Group boosted their target price on shares of Franklin Resources from $46.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $44.45.

Shares of Franklin Resources, Inc. (NYSE:BEN) traded up $0.46 during mid-day trading on Monday, reaching $45.35. 2,334,170 shares of the company were exchanged, compared to its average volume of 2,758,907. Franklin Resources, Inc. has a fifty-two week low of $39.38 and a fifty-two week high of $47.65. The company has a market capitalization of $25,070.00, a price-to-earnings ratio of 15.07, a P/E/G ratio of 1.56 and a beta of 1.75. The company has a debt-to-equity ratio of 0.08, a current ratio of 8.75 and a quick ratio of 8.75.

Franklin Resources (NYSE:BEN) last announced its quarterly earnings results on Thursday, October 26th. The closed-end fund reported $0.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.04. The firm had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.64 billion. Franklin Resources had a net margin of 26.54% and a return on equity of 13.48%. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.82 EPS. equities analysts anticipate that Franklin Resources, Inc. will post 3.14 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Shareholders of record on Tuesday, December 26th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.03%. The ex-dividend date was Friday, December 22nd. This is a positive change from Franklin Resources’s previous quarterly dividend of $0.20. Franklin Resources’s payout ratio is 30.56%.

In other Franklin Resources news, Chairman Gregory E. Johnson sold 56,825 shares of the business’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $42.83, for a total value of $2,433,814.75. Following the sale, the chairman now owns 2,047,273 shares of the company’s stock, valued at approximately $87,684,702.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Rupert H. Johnson, Jr. sold 400,000 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $42.95, for a total transaction of $17,180,000.00. The disclosure for this sale can be found here. Insiders sold a total of 514,603 shares of company stock worth $22,134,429 in the last three months. Insiders own 22.20% of the company’s stock.

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About Franklin Resources

Franklin Resources, Inc is a holding company. The Company, along with its subsidiaries, operates as Franklin Templeton Investments. It is a global investment management company that provides investment management and related services to retail, institutional and high net-worth clients in jurisdictions around the world.

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Institutional Ownership by Quarter for Franklin Resources (NYSE:BEN)

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